New York University Optimal Database Marketing Quiz Questions

User Generated

djrqegtip124

Business Finance

New York University

Description

All Questions are in the pdf of attached file.

The exam is about the book: Optimal Database Marketing, by Drozdenko and Drake, Sage Publications, ISBN: 1452231168

Unformatted Attachment Preview

2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes DMM SU20    Tests & Quizzes Tests & Quizzes Final - All Table of Contents Part 1 of 14 - Chapter 1 Question 1 of 38 How can database marketing be accountable for expenses? 3 Points A. Customers can be organized by demographic characteristics B. The success of specific marketing programs can be tracked C. Customers can access accounts online D. All of the above (a-c) Reset Selection Question 2 of 38 A key assumption of CRM is 3 Points A. Retaining existing customers is usually more profitable than acquiring new customers B. New customers have lower overall costs C. A focus on immediate sales volume leads to better CRM D. Constantly contacting good customers always yields lower costs Reset Selection Part 2 of 14 - Chapter 2 Question 3 of 38 The primary goal in establishing a database is: 3 Points A. using technology to organize customer accounts https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 1/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes B. segmenting customers according to geographic codes C. developing fast access technology D. helping the organization achieve an objective such as increasing profits Reset Selection Part 3 of 14 - Chapter 3 Question 4 of 38 Database development begins by determining: 3 Points A. Data requirements needed to meet the marketing objectives B. Guidelines for database maintenance and program coding C. Database structure D. Internal or external development and maintenance Reset Selection Question 5 of 38 Recency, frequency and monetary value data are classified as: 3 Points A. Marketing data B. Fulfillment data C. Customer contact data D. Survey data Reset Selection Question 6 of 38 Which of the following is not a source for Internal or house data: 3 Points A. Customer service B. Syndicated research C. Sales D. Accounting Reset Selection https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 2/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes Part 4 of 14 - Chapter 4 Question 7 of 38 Which of the following is a standard database maintenance routine? 3 Points A. deduping the customer file B. householding the customer file C. purging old customer records D. all of the above (a-c) are standard database maintenance routines Reset Selection Question 8 of 38 Which of the following is not a valid reason for purging or removing customers from you marketing database: 3 Points A. Inactive for the past 3-years B. Unable to confirm address for over 2-years C. Customer only orders during promotional periods D. Non-deliverable or invalid mailing address Reset Selection Question 9 of 38 A marketer wants to determine how each of several new lists performed. She should use _____________ to track performance of each list. 3 Points A. Match coding B. Promotional coding C. Source coding D. NCOA Reset Selection Part 5 of 14 - Chapter 5 Question 10 of 38 Computer networks allow many people to access the marketing database. Which of the following groups of individuals would have at least some level of access to the 3 Points https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 3/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes database? A. Product managers B. Data analysts C. Customers through the internet D. All of the above (a-c) would have some level of access to the database Reset Selection Question 11 of 38 Which of the following is the first step in the process to select an external database provider? 3 Points A. Assess internal needs B. Formalize needs into a specification for a proposal C. Distribute project specifications to qualified vendors D. Evaluate vendor proposals Reset Selection Question 12 of 38 Which of the following phases of database development is never completed? 3 Points A. Ongoing maintenance B. System design C. System development D. System implementation Reset Selection Part 6 of 14 - Chapter 6 Question 13 of 38 Which of the following is the best example of a random sample? 3 Points A. Selecting 1000 names per state B. Using an “nth” select method based on the sample required and size of database https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 4/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes C. Sort the database by past purchase level and select every fifth name D. Sort the database by past purchase level and select every tenth name until 10,000 names are sampled Reset Selection Question 14 of 38 Why is it necessary to freeze files as a step in the data analysis process? 3 Points A. To ensure a random sample B. To ensure that the analysis is based on customer characteristics prior to the promotion C. To ensure that the analysis is based on customer characteristics after the promotion D. To ensure that the test sample is equal to the analysis sample Reset Selection Part 7 of 14 - Chapter 7 Question 15 of 38 What advantage does cross-tabulation have over univariate tabulation? 3 Points A. Response rates can be examined B. Percentages can be used C. Response rates can be examined for two or more variables at one time Reset Selection Question 16 of 38 One purpose of _________________ is to reduce the amount of analysis by focusing on relationships between variables. 3 Points A. Time alignment B. Correlation analysis C. Ratio analysis D. Univariate analysis https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 5/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes Reset Selection Part 8 of 14 - Chapter 8 Question 17 of 38 Looking at this graph, how many final clusters did the CHAID analysis reveal (not subgroups)? 3 Points A. 1 B. 5 C. 4 D. 3 Reset Selection Part 9 of 14 - Open-ended question Below is a small dataset showing by week, media spending (advertising dollars) by XYZ company and website visits to that company’s website. The dataset also show the average visit duration (or length of stay) those website visits had for that same week. On the right, is the correlation coefficients table for the data variables. Attachments https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 6/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes Question 18 of 38 1. Please describe the relationships among 3 variables (media spend, website visits, and avg. 1 Points visit duration) from the Correlation Coefficients table. (1 pt) Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count) Question 19 of 38 2. Would you consider these relationships strong or weak? Explain why? (1 pt) 1 Points Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count) Question 20 of 38 https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 7/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes 3. If the company spends $200,000 dollars this week what do you think a safe range might be1 Points in estimating total website visits and avg. visit duration for that same week? (1 pt) Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count) Question 21 of 38 Please type your name: 0 Points Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count) Yiling Wang Part 10 of 14 - Chapter 9 Question 22 of 38 In which of the following situations can simple linear regression be applied: 3 Points A. Predicting response rates based upon 3 measures of Recency, Frequency, and Monetary B. Predicting response rates based upon age of customer C. Segmenting customers based on income and transaction history D. In all of the above (a-c) situations simple linear regression can be applied https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 8/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes Reset Selection Question 23 of 38 With regard to the coefficient of determination (R2), which of the following indicates the 3 Points best “fit.” A. .05 B. .50 C. .02 D. .75 Reset Selection Part 11 of 14 - Chapter 10 Question 24 of 38 Which of the following predictive variables would need to be re-coded prior to 3 Points regression analysis? A. Age entered in years B. Income in dollars C. Number of children in a household D. Hobbies where 1 is gardening, 2 is bowling, 3 is golfing and 4 is collecting car replicas Reset Selection Question 25 of 38 Which of the following is a “dummy variable? 3 Points A. Level of education designated as 1, 2, 3, and 4. B. Level of education converted from 1, 2, 3, 4, 5 to 1, 2, 3. C. SUV owner designated as 1 (own) or 0 (don’t own) converted from a car type list D. Subscription holder designated as 1 (past year), 2 (more than 1 year), 3 (current), 0 (never) Reset Selection https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 9/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes Question 26 of 38 Which of the following would most likely be the dependent variable in a multiple regression model developed for a direct marketer? 3 Points A. Age B. Response to offer C. Interest in motorcycles D. Income Reset Selection Question 27 of 38 Which of the following represents a multiple regression equation? 3 Points A. Y= a + b1x1 + b2x2 + b3x3 +… B. X= a + b1x1 + b2x2 + b3x3 +… C. X= a + b1y1 + b2y2 + b3y3 +… D. All of the above (a-c) are standard linear multiple regression equations Reset Selection Question 28 of 38 With regard to multiple logistics regression models, which of the following is (are) true? 3 Points A. The model was specifically designed to deal with binary response variables B. The predicted value is a true probability that can be easily used in an expected profit calculations C. The logistic model might be more predictive with smaller sample sizes D. All of the above (a-c) are true Reset Selection Question 29 of 38 Which of the following is false with regard to ensuring that a model will hold up in rollout? 3 Points A. There should be consistency between the offer tested and the offer that will be used with the applied model. https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 10/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes B. Names should be selected from a much more diverse universe than was used in developing the response model C. The sample should be split for validation D. P-value should be examined for statistical significance Reset Selection Part 12 of 14 - Chapter 11 Question 30 of 38 If the analysis gains chart has monotonically (perfectly smooth) decreasing response 3 Points rates, but the validation chart does not (it decreases then increases), this is a indication of: A. A poor model B. A good model C. The analysis gains chart is not reliable but the validation chart is reliable D. High p-levels Reset Selection Question 31 of 38 Which of the following would be the first step in developing a gains chart? 3 Points A. Score the validation sample B. Rank the validation sample C. Score the analysis sample D. Define cut-points for the “buckets” Reset Selection Question 32 of 38 What is the difference between an incremental and cumulative gains chart? 3 Points A. The incremental gains chart can only have 10 buckets B. The cumulative gains chart provides an indication of the total response rates for a bucket and all buckets above it. C. The cumulative gains chart provides an indication of the total response rates for a bucket and all buckets below it. https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 11/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes Reset Selection Question 33 of 38 When validation samples are lacking two alternative methods are available. The 3 Points method that builds the regression model from many sub-samples of the main test sample is called: A. Bootstrapping B. Historical falloff adjustment C. Cluster analysis D. Correlation Reset Selection Part 13 of 14 - Chapter 12 Question 34 of 38 Why is LTV important to database marketers? 3 Points A. Assess the long-term results of marketing programs, name sources, treatments, or strategies B. Conduct what-if analyses to assist in determining the likely long-term benefits to be derived prior to test or rollout of a new program, source or treatment C. All of the above (a-b) Reset Selection Question 35 of 38 A direct marketer is planning to calculate LTV. He has revenue and cost data. He also 3 Points needs to: A. Specify all technology revenues B. Adjust for the net present value (NPV) C. Include non-responding prospects D. All of the above (a-c) Reset Selection https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 12/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes Part 14 of 14 - Open Ended Question #2 Attachments Question 36 of 38 This gains chart was produced after the population was scored with a predicative model. 0 Points Without the predictive model ranking prospects from Group 1 to Group 10, how many responses do you anticipate each group would generate assuming the file was randomly selected. Please explain how you arrived at your answer. (1 point) Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count) Question 37 of 38 Your supervisor told you a response rate over 5.19% is required for any solicitation to 0 Points profitable. How many groups can you safely solicit to be above 5.19% response rate? Please explain how you arrived at your answer (1 point) Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count) https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 13/15 2020/8/10 NYU Classes : DMM SU20 : Tests & Quizzes Question 38 of 38 Please explained what an index value of 84 represents [note: your response would be the same if the Index also was 184] (1 point) 0 Points Maximum number of characters (including HTML tags added by text editor): 32,000 Show Rich-Text Editor (and character count) Save Exit Submit for Grading Timezone: America/New_York Terms of Use Send feedback to the NYU Classes Team Powered by Sakai Copyright 2003-2020 The Apereo Foundation. All rights reserved. Portions of Sakai are copyrighted by other parties as described in the Acknowledgments screen. Change Profile Picture Error removing image Error uploading image https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 14/15 2020/8/10 Upload Save 选择⽂件 未选择任何⽂件 Cancel Connections NYU Classes : DMM SU20 : Tests & Quizzes  Remove Search for people ... View More My Connections Pending Connections You don't have any connnections yet. Search for people above to get started. You have no pending connections. Back to My Connections Search for people ... $({cmLoader.getString("connection_manager_no_results")} Done https://newclasses.nyu.edu/portal/site/06f12a97-e06c-4b80-b8e3-7c17ae2c8f20/tool/184dba7d-b954-4a81-be11-4701120df979/jsf/delivery/deliverAssessment 15/15
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Hello, here is the solution 😊

Running head: OPTIMAL DATABASE MARKETING

Optimal Database Marketing
Student’s Name
Institutional Affiliation

1

OPTIMAL DATABASE MARKETING

2

Optimal Database Marketing
1. D
2. D
3. A
4. A
5. C
6. B
7. B
8. C
9. C
10. D
11. A
12. A
13. B
14. C
15. C
16. B
17. C
18. There is a stro...


Anonymous
Super useful! Studypool never disappoints.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags